Non-OPEC States Should Cooperate to Help Raise Oil Prices - Azerbaijan President
TEHRAN (Basirat)- Non-OPEC states should cooperate to ensure the growth of oil prices, President of Azerbaijan Ilham Aliyev said Saturday.
Non-OPEC states should cooperate to ensure the growth of oil prices, President of Azerbaijan Ilham Aliyev said Saturday.
The oil prices dove down in 2014 following a few very profitable years and have been struggling to recover ever since, with a recent IMF prognosis predicting little significant growth in the next five years.
"I believe that non-OPEC countries should work together, openly and honestly. The right decisions have to be made. A powerful control mechanism over the carrying out of these decisions should be established. If all this happens, the oil prices will begin rising to a necessary level," Aliyev said, as quoted by his press office, after a meeting with President of Venezuela Nicolas Maduro.
The oil prices dove down in 2014 following a few very profitable years and have been struggling to recover ever since, with a recent IMF prognosis predicting little significant growth in the next five years.
"I believe that non-OPEC countries should work together, openly and honestly. The right decisions have to be made. A powerful control mechanism over the carrying out of these decisions should be established. If all this happens, the oil prices will begin rising to a necessary level," Aliyev said, as quoted by his press office, after a meeting with President of Venezuela Nicolas Maduro.
Maduro, following that meeting, said that the non-OPEC members were
very close to joining the agreement on oil output freeze, which OPEC
countries reached in September and are set to finalize at the OPEC
summit in Vienna on November 30.
